The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Real EstateIPO / M&A

Compass rivals question path to profitability

Critics say brokerage inflates revenue figures

Compass’s S-1, a disclosure the company filed Monday as a shareholder pitch, runs over 250 pages long.

But nowhere in the voluminous filing, observers say, is a lucid argument as how Compass might become profitable.

“They showed a $270 million loss in an insanely booming housing market,” noted Jonathan Miller, a real estate appraiser at Miller Samuel.

The S-1’s main sales points, especially an introductory section where Compass walks through its agent-friendly technology, “seems to show how little they understand the brokerage space or are just ignoring it,” Miller said.

Compass and its CEO Robert Reffkin have likely braced for such criticism.

Going public appeared a logical next move for the nine-year-old real estate brokerage. Compass is a venture capital fundraising force, raising $1.6 billion total (34% of the company’s common stock shares are earmarked for a Cayman Islands subsidiary of the Masayoshi Son-led SoftBank Vision Fund, the brokerage’s biggest VC backer). It has also gobbled up market share in its home turf of New York City and across California, among other locales.

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